20C Consent may be declined if transaction contrary to national interest

(1)

The Minister may decline consent to a transaction of national interest if the Minister considers that the transaction is contrary to New Zealand’s national interest.

(2)

The person making a decision under section 24 in relation to a particular application cannot exercise the Minister’s power under subsection (1) in relation to that application.

(3)

If the Minister does not decline consent to a transaction of national interest, the Minister may impose any conditions on any consent that may be granted under this Act, and section 25A applies with necessary modifications.

Section 20C: inserted, on 16 June 2020, by section 17 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).

Section 20C(3): inserted, on 5 July 2021, by section 14 of the Overseas Investment Amendment Act 2021 (2021 No 17).